It is a pegged currency. The only way to create SBD is to earn it through rewards. When the price is over $1.00, then this incentivizes people to select 50/50 reward payout. This floods the market with SBD and drives price down.

The other driver is that it is not available on multiple exchanges. Investors are reluctant to buy it up if it is not available on the exchange that they like and use.

The key is to get SBD on exchanges. That will boost the price of SBD and boost Steemit growth.